Wednesday, July 17, 2013

Area Real Estate Sales On Track For a Record Year in 2013

  Following four months of somewhat inconsistent MLS®sales activity during January through April, we have now had two months back-to-back (May & June) where monthly sales have surpassed those of the same months last year.
  MLS® sales as reported by the Georgian Triangle Association of REALTORS®

posted a 16% increase in terms of units sold during June while dollar volume for the month was up 21%.  The first six months of 2013 have effectively been the busiest months on record for sales in our area with $300.3 million worth of MLS® listed properties changing hands.  Should this pace continue, sales in 2013 may well be the highest ever for our area.
  While this trend speaks well of the market in "general" all areas of the market are not  reflecting universally good results.  Single family home sales are running on par with 2012, for the first six months of 2013 there have been 679 single family homes sold through the local MLS® system versus 681 in 2012.  Condominiums sales are up 11% with 172 units sold thus far in 2013 compared to 155 in 2012.  We are also seeing an increase in vacant land sales which to date are up 7% from last year with 74 properties having sold through thr end of June.
  As per the accompanying graphs, out of all the area municipalities, the Blue Mountains is showing the strongest market conditions with unit sales for the year up 10% from one year ago.  Collingwood and Wasaga Beach are holding their own with sales up 2% and 6 % respectively.  Meanwhile Clearview, Grey Highlands and the Municipality of Meaford are all lagging well behind 2012 sales with sales in 2013 that are from 6% to 21% below one year ago.
  Most price ranges are showing consistent if not stronger sales activity in 2013 compared to last year.  The only notable exception is in the $1 million to $1.5 million range where sales for the first six months total just six properties compared to 12 last year, a 50% decrease.  meanwhile sales over $1.5 million are up 50% with four sales this year compared to just two in 2012.
  Given the up and down nature of our market this year it is anyone's guess as to what will transpire in the second half of the year.  I suspect we will continue to see a consistent sales activity throughout the balance of the year heading into the 2013/2014 ski season.
  For further details please see my 2nd Quarter Georgian Traingle Real Estate News.

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